Loan guarantor responsibility comes into effect when the borrower defaults in his payment. Bank can approach a guarantor in this case.
Loan guarantor has various responsibility :
1. Guatnator comes in the picture when borrowers make defaults in EMI payment.
2. Guarantor is liable to pay the loan as much as borrower himself in case of defaults.
3. Guarantor CIBIL also gets affected by this.
Murari Garg
/ murarigarg
Негізгі бет Тәжірибелік нұсқаулар және стиль What is your responsibility as a guarantor in bank loan and what happen when loan defaults
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